NZD/USD Price Analysis: Bears bail out ahead of CPI

• NZD/USD traders await to see how the land lies after the NZ CPI today.
• Bears have taken profits at key trendline support. 

As per the prior analysis, NZD/USD Price Analysis: Bulls seek a break of key trendline resistance, whereby a correction was underway and a continuation would be eyed for in due course, we have seen bears move into a 50% mean reversion area while leaving room on the table for a deeper move should today's data warrant it. 

NZD/USD prior analysis 

The trendline resistance has kept the bears in play, so far:

We saw a false break of the trendline and a strong move to the downside to test trendline support on the way to last month's highs. Bears have moved about ahead of the data as the 0.62s come under pressure.